PROJECT SUMMARY
17%
PROJECTED IRR
$50,000
Min. Investment
3 Years
Term
Accredited
Investors
The Woods at McCormick Townhomes
The Woods at McCormick is a 120-unit Build-To-Rent sub-urban complex in a neighborhood currently experiencing high growth and renewal. The Woods is located on a 15-acre wooded lot conveniently off of Tracy Lane highway. This two floor, 120,000 square foot residential project will offer 100% market-rate units in 21 buildings.
The community will be the only one on the market equipped with a leasing office and community center, walking and hiking trails, a private dog run and bathing station, and swimming pool. The community is situated immediately within five minutes from the recently constructed Publix grocery store and shopping center.
SEE HOW MUCH YOUR INVESTMENT CAN EARN YOU
PROPERTY AT A GLANCE
# of Units
120
Est. Construction Completion Date
May 2024
Avg. Unit Size
1,368
Total Sq. Feet
161,424
Location Highlights
Clarksville Ranks No. 1 Hottest Housing Market Nationwide
Clarksville Ranks No. 1 Hottest Housing Market Nationwide in Opendoor Study!
Opendoor’s study used Multiple Listing Service (MLS) data to rank the top 10 U.S. neighborhoods by total homes contracted within 90 days of being listed. Clarksville took the top spot, followed by Leander, Texas.
High-Demand Location in Tennessee
There is a large need for more houses and multifamily units in Tennessee because of the large influx of people migrating from western and eastern states.
Pro Forma Highlights
Project Description
Property Name
The Woods
Property Type
Build-to-Rent Townhomes
City, State
Clarksville, TN 37040
Building Size
161,424 SF
Unit Mix
Total # of Units
120 Units
Total SF
161,424 SF
Avg. SF Per Unit
1,368 SF
Timeline and Exit
Project Acquisition
05/2022
Projected Construction Completion
05/2024
Projected Final Project Exit
05/2032
Sources
GP Equity
$402,500
Investor Equity
$7,647,887
Construction Loan
$23,015,887
Total
$31,065,887
Uses
Acquisition/Land Purchase
$1,010,000
Soft Costs
$2,085,558
Hard Costs
$26,602,361
Debt Expenses & Interest
$948,460
Reserves & Fees
-
Total Project Costs
$30,646,380
Investment Return
Investor Contributions
$7,647,500
Net Profit
$3,894,838
Projected IRR
17.03%
Multiple
1.51x
Timeline
36 Months
Site/ Floor Plans
Samaroo Group
Keith Samaroo
President & CEO
Keith Samaroo has over 25 years in the real estate development industry specializing in complex waterfront rezoning and brownfield redevelopment. Summary of qualifications include development, re-finance strategies and reposition for various assets; Keith was a development partner in a transit oriented multi-family development project in NY, and a development partner in a medical office building in New York. Keith was a founding member of the US Green Building Council in New York's Local Chapter, a well as serving on the board for Smart Growth Council Chapter in New York. Keith has a BS in Physics from Fordham University, and Electrical Engineering equivalent from Manhattan College and an MBA in Finance from Dowling College, New York.
Disclosures
The Woods Disclosures
© 2021 Paradyme, All Rights Reserved. Our offerings under Rule 506(c) are for accredited investors only. Neither Paradyme Funding, Inc. nor any of its other affiliates are registered investment advisors and do not provide investment advice. Paradyme Funding, Inc. and all of its affiliates do not guarantee any investment performance, outcome, or return of capital for any investment opportunity posted on the site. Investing in commercial real estate entails risk. You should not invest unless you can sustain the risk of loss of capital, including the risk of total loss of capital. This communication is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any investor. All investors should consider such factors in consultation with a professional advisor of their choosing when deciding if an investment is appropriate.
